The recloser market outlook appears very promising, mainly due to the continually rising recloser replacement initiatives. Governments in many countries are undertaking reliability improvement programs, and the recloser replacement is one of three initiatives of these programs. Additionally, the growth in global electricity demand and grid infrastructure worldwide boosts the recloser market size. 

Vast investments toward the refurbishment of aging grid infrastructures increase the recloser market shares. The number of smart grids is expected to increase further with growing regulatory targets over the next five years. This shows that the global recloser market is projected to grow rapidly during the forecast period. 

According to Market Research Future, the global recloser market is expected to touch an exponential valuation by 2027, growing at an impressive 6% CAGR during the forecast period (2020-2027). Moreover, the growing uptake of smart grid technology across developed economies creates substantial market demand, witnessing a sizeable growth in electrical infrastructure modernization expenditures.

Get Free Sample PDF Brochure @ https://www.marketresearchfuture.com/sample_request/6022 

COVID-19 Impact

The COVID-19 outbreak hit the recloser industry severely, causing huge revenue losses. Recloser manufacturers faced various problems ranging from obtaining raw materials & components required for the production and attracting workers from quarantines to delivering end products to markets. Closer installing and replacements were postponed due to strict lockdown mandates, which further impacted the production facilities, bringing them to a halt.

Besides, the lockdown mandates put a brake on the component and device manufacturing, which spiked product prices, and lowered the market demand subsequently. However, the Recloser market is rapidly returning to normal, witnessing a steady rise in the demand. The market demand is estimated to pick up following the uplift of lockdown in many countries. 

Industry Trends

Reclosers are automatic high-voltage electric switches that disconnect the power supply when trouble occurs. These devices then reset themselves and restore power when the trouble has been removed. Therefore, these are installed to protect power lines that feed customers. Reclosers are used in connecting switchgear to address all challenges of renewable connection. Rising uses of reclosers in connecting wind farms to the distribution grid increase market sales. 

Besides, vast technological advances and evolution in switchgear technology that has simplified renewable connection, providing auto-synchronization, synchro check, and conventional protection functions substantiate the market demand. Today's advanced reclosers include single-phase technology that can isolate problem areas on one portion of a power line while keeping electricity supply through the remainder intact, minimizing the number of customers interrupted by certain types of outages. 

These newer recloser models can also be operated remotely to assist line workers in the field during restoration activities. Increasing legislative measures toward expanding reliable grid infrastructure in developing nations would further complement the business landscape. Increasing smart city projects and the growing awareness about energy efficiency benefits to the environment, and improving wireless grid communication technology boosts the closer market demand.

Segmentation

The recloser market analysis is segmented into phase recloser type, insulation type, voltage rating type, control type, and regions. The phase recloser type segment is sub-segmented into single-phase recloser, three-phase recloser and triple-phase recloser. 

The insulation type segment is sub-segmented into oil-insulated reclosers, gas-insulated reclosers, and epoxy-insulated reclosers. Among these, the epoxy insulated recloser segment accounts for the largest market share, witnessing rising installations of the reclosers due to their flexibility and hydrophobic prevention.

The voltage rating type segment is sub-segmented into high voltage recloser, medium voltage recloser and low voltage recloser. Among these, the high voltage recloser segment accounts for the largest market share. The control type segment is sub-segmented into electrical control, hydraulic control, and microprocessor control-based technology. 

Regional Segmentation

Asia Pacific dominates the global recloser market, mainly due to vast investments for developments and upgrades of grid infrastructures. Besides, rapid investments in renewable power generation sources and infrastructural activities substantiate the recloser market size. 

The spurring rise in power infrastructure drives the recloser market growth in the region. The region is anticipated to maintain its market position throughout the assessment period. 

North America stands second in the global recloser market. Factors such as the growing infrastructure development projects and power demand in the region substantiate the market growth. Centralized reclosers are connected to a central control room and allow much greater visibility and control over a grid. The US, with its growing T&D lines, dominates the regional market.

Additionally, rising advances and uptake of smart grid technologies comprising centralized, automated reclosers, advanced metering infrastructure (AMI), and substation automation. Increasing demand for connectivity and recloser monitoring & control, alongside the latest satellite technologies in the region, influences the market growth. Decentralized reclosers operate in isolation and are programmed to trip and reset without the need for connectivity networks.

Europe has emerged as a profitable market for reclosers globally. Factors such as rising uses of reclosers in electric utility upgrade programs and power system simulators used in various power systems to minimize fault conditions create substantial market demand. Circuit reclosers are essential devices in maintaining maximum continuity of service. Rising uses of circuit reclosers, due to their ability to sense and interrupt currents in the event of a fault, propel the regional market growth.

Browse In-depth Market Research Report (100 pages) on Recloser Market

https://www.marketresearchfuture.com/reports/recloser-market-6022

Competitive Analysis

The recloser market is experiencing implementations of several strategic approaches, such as expansion, collaboration, mergers & acquisitions, and product launches. Mature industry players make strategic investments in research and development activities and fostering their expansion plans. 

For instance, recently, on Nov. 18, 2020, Potomac Edison, a subsidiary of FirstEnergy Corp., announced the upgrade of substation reclosers in Maryland. The company was scheduled to complete replacements of 15 substation recloser by Dec.2020, part of the company's broader initiatives to enhance service reliability for customers across its Maryland service area that began in 2019. Devices support enhanced outage restoration as part of a larger service reliability improvement program. 

In another instance on Oct. 27, 2020, First S&C Electric Company, a leading grid innovator improving power reliability and delivery worldwide, and Western Power Distribution (WPD), a U.K.-based electricity distribution network operator, announced the completion of the installation of the first S&C TripSaver cutout-mounted recloser in the United Kingdom.

Key players involved in the market are Eaton (Ireland), ABB (Switzerland), Siemens (Germany), General Electric (US), G&W (China), Schnieder (France), Stelmec (India), Noja Power (US), Entec Electric and electronic (Korea), Arteche (Spain), Solomon Corp. (US), Ergon Energy (Australia), and Hughes Power System (Sweden).